Blockchain came with efficient solutions to multiple issues prevailing in telemedicine systems. Solutions to increasing counterfeit drugs, data breaches, and other significant factors became the driving force for Blockchain healthcare market growth. Marketsandmarkets predicted that the global Blockchain healthcare market would reach 829 million USD by 2023.

Blockchain facilitates the telemedicine sector by providing secure data sharing, the privacy of PHIs and verifiable data. The incorporation of Blockchain in Telemedicine gave it the required boost and increased its market value. According to Statista, the telemedicine market was valued at 45 billion USD in 2019, which has grown significantly and is expected to reach more than 175 billion USD by 2026.

Source: DZone